Merrex Gold Inc.

Merrex Gold Inc.

January 23, 2008 12:37 ET

Merrex Options Sand Brook Gold Prospect

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 23, 2008) - Gregory Isenor, President and CEO of Merrex Gold Inc., (Merrex) (TSX VENTURE:MXI) announces that Merrex has optioned the Sand Brook gold prospect in New Brunswick.

The Sand Brook Option

Pursuant to the Sand Brook option agreement Merrex has acquired a 15% vested interest in 43 mineral claims located near Sand Brook Mountain approximately 70 kilometres southwest of Fredericton in Charlotte County, New Brunswick. The cost of the 15% interest was $134,280. Merrex may acquire an additional 35% by incurring $350,000 of exploration expenditures by June 30, 2009. The 35% interest vests in 5% increments with each $50,000 of incurred exploration expenditures. Merrex will be the operator during the earn-in phase. Upon the earlier of a 50% interest being earned or June 30, 2009 the parties will form a joint venture for the further exploration of the property. Merrex will be the initial operator of the joint venture if a 50% interest is earned.

Sand Brook Gold Prospect

The Sand Brook gold prospect is contiguous to and on strike along the Sawyer Brook Fault with Freewest Resources Ltd.'s Clarence-Stream gold deposit. A NI43-101 compliant resource estimate on the Clarence-Stream gold deposit disclosed an Indicated Mineral Resource of 648,000 tonnes grading 7.30 g/t gold or 152,00 ounces of gold, an Inferred Mineral Resource of 544,000 tonnes grading 6.58 g/t gold or 115,000 ounces of gold and an Indicated Mineral Resource of 126,000 tonnes grading 2.30% antimony or 6,395,000 pounds of antimony. Additionally, all of the gold zones are reported to remain open along strike and to depth.

Previous Exploration

In 1987 a rock chip-sampling program by Rio Algom Exploration yielded results up to 18 g/t Au with anomalous values in copper, lead, zinc, silver, antimony and arsenic.

In 1989 Grand Empire Exploration drilled 10 short holes - the best intersections were 0.45m of 1949 ppb Au and 0.3 m of 3481 ppb Au.

In 1992 detailed prospecting and trenching by Brunswick Mining and Smelting reported 9.8 ppm Au in 1 - 1.5 m outcrops along strike, with a spot high of 18 g/t Au.

In 2004 a program of geological mapping by Fundy Minerals lead to the discovery of a mineralized zone hosting a quartz vein with chip sample and grab sample assays up to 19 g/t Au.

Mali Primary Exploration Focus

Merrex's primary exploration focus will continue to be its Siribaya Gold Project in west Mali where Merrex holds five mineral permits with a sixth permit in process covering over 900 square kilometres, all within the West Mali Gold Belt, a region which currently produces in excess of one million ounces of gold per year from such well-known large gold deposits as the Sadiola and Loulo mines. In addition, Merrex is in various stages of negotiations to acquire additional mineral permits in the area which, when completed, would result in a contiguous land position of approximately 1,000 square kilometres.

Merrex Gold is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, gold in Red Lake, Ontario and nickel in West Voisey's Bay, Labrador, with a solid organization of people and projects to enable continued aggressive exploration, discovery, and growth.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.


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